Circular CSSF-CPDI 25/49 is a CSSF circular, published 24 December 2025. Subject: Survey on the amount of covered deposits held on 31 December 2025.
\nLegal basis: Law of 18 December 2015 on the resolution and liquidation of banks and investment firms.
\nRelevant for: Credit institutions.
\nTo the members of the Fonds de garantie des dépôts Luxembourg
\nLuxembourg, 24 December 2025 Ladies and Gentlemen, 1. The aim of this circular is to carry out the regular survey on deposits, and more particularly on covered deposits, as held by credit institutions incorporated under Luxembourg law, the POST Luxembourg for its provision of postal financial services, and Luxembourg branches of credit institutions having their head office in a third country (hereinafter referred to as “institutions”) as at 31 December 2025. The collected data shall enable the Conseil de protection des déposants et des investisseurs (hereinafter, “CPDI”) to determine the contributions referred to in Article 179 of the law of 18 December 2015 on the failure of credit institutions and certain investment firms, as amended (hereinafter, the “2015 Law”) that become necessary for the FGDL to maintain its target level in 2026. The data also serves to calculate the contributions in 2026 to the buffer of additional financial means referred to in Article 180 of the 2015 Law. The calculation of the annual contributions collected by the FGDL will be made pursuant to circular CSSF-CPDI 25/48. 2. We would like to draw your attention to the fact that the present circular has not undergone any change regarding the content and terms and conditions of the survey process on the amount of covered deposits. In comparison with the previous circular regarding the quarterly survey on the amount of covered deposits, changes are limited to the date of reference and deadline. Likewise, attached specifications remain unchanged. 3. Pursuant to Article 16, paragraph 1, of the Commission delegated regulation (EU) 2015/63 of 21 October 2014 supplementing Directive 2014/59/EU, the average amount of covered deposits calculated quarterly will be transmitted to the Single Resolution Board by 30 January 2026 and will be used to determine the Single Resolution Fund’s annual target level. 4. A definition of “covered deposits” and “eligible deposits” can be found in Article 163 of the 2015 law. The provisions of Circular CSSF-CPDI 16/02 as amended by Circular CSSF-CPDI 23/35 shall be taken into account, in particular with regard to the exclusions of structures assimilated to financial institutions, as well as the treatment of accounts whose holder is not absolutely entitled to the sums in the account (omnibus accounts, accounts of fiduciaries, accounts held by trusts, third-party accounts, sub-accounts, segregated accounts, etc.). In case the account holder differs from the persons that are absolutely entitled to the sums in the account, the FGDL members shall take reasonable measures to regularly obtain information on the number of identifiable and eligible persons entitled to the sums in the account as well as on the amounts to which each of them is entitled, so as to accurately report the amount of covered deposits and covered claims to the CPDI. In the absence of a reliable and up to-date estimate of the above-mentioned information, the FGDL members report the total amount of omnibus accounts opened in their books.
\nWe also remind you that the breakdown into natural and legal persons of omnibus accounts or other types of accounts whose holder is not absolutely entitled to the sums in the account, shall be made according to the legal status of the holder of such accounts. We remind the FGDL members that neither accounts denominated in units of precious metals, such as gold (XAU) or silver (XAG), nor accounts denominated in virtual currencies, such as Bitcoin or Ether, constitute eligible deposits for the purpose of the FGDL guarantee.
\nThe text above is the opening of the document; the PDF carries the whole.
\nDocument page, PDF. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent. The French text prevails.
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